Break-even: I break-even on this trade if AAPL closes at $550.20 by January 28, 2013.
Unprofitable: I lose money on this trade if AAPL closes under $550.20 by January 28, 2013. The most I can lose on this trade is the amount I paid for the Spread, $50.20
Reason I Like This Trade: I always want to get LONG AAPL in one way and I think this sell-off is a great way to get LONG. I want to make a bet that AAPL will close by the end of the higher than where it is trading now. I have the odds in my favor, because even if AAPL sells off, I can make money on this trade. I think this is a great even money bet/position.
UPDATE 5.9.2012 With AAPL rallying to $569, this Spread is currently worth $52.20, but since I put this trade on until 2013, I will leave it on for more potential profits.
UPDATE 5.9.2012 With AAPL rallying to $573, this Spread is now worth over $54, but since it is a position not a trade, I will leave it on for more upside potential.
UPDATE 5.11.2012 With AAPL rallying to $573, this Spread is now worth over $54, but since it is a position not a trade, I will leave it on for more upside potential.
UPDATE 5.21.2012 With AAPL selling off and now rallying, this Spread is worth right around $47, but since it is a position not a trade I will leave it on.
UPDATE 5.22.2012 With AAPL rallying another $10 and I remain short term bearish, I took the trade off at $52 and hoping for another sell-off in AAPL to put on a similar position.
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